Unemployment rate jumps to 5.7% in July as more people look for fewer jobs

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Canada’s economy has added more than 300,000 jobs in the past year, but the jobless rate ticked up in July as more people were looking for work, too. (Matthew Staver/Bloomberg News)

Canada’s economy lost 24,000 jobs in July, and the unemployment rate moved up 0.2 percentage points to 5.7 per cent.

Alberta, Nova Scotia and New Brunswick lost jobs, while Quebec and Prince Edward Island added them, Statistics Canada reported Friday. Everywhere else, the job market held steady.

The data agency said 11,000 people joined the workforce last month, but the total number of jobs shrank by more than twice that, the reason the jobless rate moved up two ticks to 5.7 per cent.

Canada’s economy lost almost 12,000 full-time jobs in July, and slightly more part-time jobs were lost on top of that, too.

July’s numbers mean that over the past 12 months, Canada’s economy has added 353,000 jobs, the vast majority full time.

More to come

SOURCE: CBC.ca

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